
Si Newhouse's Star-Ledger looked like it was going the way of the New York Sun a couple weeks ago: with no money, tons of debt, and a union strike keeping the papers from being delivered, the obit for the publication was being written for January at the latest.
But now with the strike coming to a close and a buyout settlement being reached, the Star-Ledger might actually be salvageable, provided the staff cuts reduce the workforce from 1,000 to under 800. Sure it sucks to be those excess of 200 people who accepted the buyout requirements but won't be getting it (the paper overshot their buyout ability, now some of those that accepted the deal are going to be straight-up layoffs). But hey, who really wants to work for a paper that is going to bleed out $40 million this year alone?
There are no comments yet. Post yours!